LTC Properties (NYSE:LTC) had its target price reduced by equities researchers at Wells Fargo & Co from $43.00 to $28.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Wells Fargo & Co‘s target price indicates a potential downside of 5.51% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Berenberg Bank upgraded shares of LTC Properties from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Wednesday, February 26th. Zacks Investment Research upgraded shares of LTC Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Finally, Mizuho reiterated a “neutral” rating and set a $42.00 price target on shares of LTC Properties in a research note on Friday, December 20th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $41.33.

LTC stock traded down $0.38 on Thursday, hitting $29.63. The company had a trading volume of 109,574 shares, compared to its average volume of 580,993. LTC Properties has a 12-month low of $24.49 and a 12-month high of $53.04. The company has a current ratio of 9.85, a quick ratio of 9.85 and a debt-to-equity ratio of 0.88. The stock’s 50-day simple moving average is $42.27 and its 200 day simple moving average is $46.46. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 14.74 and a beta of 0.38.

In related news, Director James Pieczynski purchased 1,000 shares of LTC Properties stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $45.05 per share, for a total transaction of $45,050.00. Following the acquisition, the director now owns 23,280 shares in the company, valued at approximately $1,048,764. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC purchased a new stake in shares of LTC Properties in the 3rd quarter worth approximately $70,000. Redpoint Investment Management Pty Ltd raised its stake in shares of LTC Properties by 36.1% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 9,447 shares of the real estate investment trust’s stock worth $484,000 after acquiring an additional 2,505 shares in the last quarter. State Street Corp raised its stake in shares of LTC Properties by 1.5% during the 3rd quarter. State Street Corp now owns 2,455,170 shares of the real estate investment trust’s stock worth $125,754,000 after acquiring an additional 36,891 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in LTC Properties by 15.3% during the 3rd quarter. Pictet Asset Management Ltd. now owns 8,300 shares of the real estate investment trust’s stock valued at $425,000 after purchasing an additional 1,100 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in LTC Properties by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 61,359 shares of the real estate investment trust’s stock valued at $3,143,000 after purchasing an additional 733 shares in the last quarter. Institutional investors own 76.58% of the company’s stock.

LTC Properties Company Profile

LTC is a real estate investment trust (REIT) investing in seniors housing and health care properties primarily through sale-leasebacks, mortgage financing, joint-ventures and structured finance solutions including preferred equity and mezzanine lending. LTC holds more than 200 investments in 28 states with 30 operating partners.

Featured Article: What are the Different Types of Leveraged Buyouts?

Analyst Recommendations for LTC Properties (NYSE:LTC)

Receive News & Ratings for LTC Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LTC Properties and related companies with MarketBeat.com's FREE daily email newsletter.